Panama

A word which, in 1892, became synonymous with government
corruptions. M. de Lesseps undertook to cut a sea passage through the
Isthmus of Panama, and in order to raise money from the general public,
bribed French senators, deputies, and editors of journals to an
enormous extent. An investigation was made into the matter in 1892, and
the results were most damaging. In the beginning of 1893 Germany was
charged with a similar misappropriation of money connected with the
Guelph Fund, in which Prince Ludwig of Bavaria was involved.

“On the other side of the Vosges people will exult that Germany has
also her Panama.” —Reuter's Telegram, Berlin, January 2nd,
1893.